The UK economy will see the slowest growth of the largest developed nations next year, according to forecasts. The Organisation for Economic Co-operation and Development (OECD) predicted that UK gross domestic product – a key measure of economic health – will rise by 1% in 2025. This is below the rest of the G7 nations, which include Canada, France, Germany, Italy, Japan and the US. The OECD has blamed the after-effects of a succession of interest rate rises in the UK for the lethargic performance. The UK economy is now forecast to expand by 0.4% this year, a downgrade from the OECD’s previous projection for 0.7% growth. Click here for more.
